Damn red lights...

"davesaddiction @ opposite-lock.com" (davesaddiction) 06/09/2020 at 11:11 • Filed to: None

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My wife’s company’s stock is up 340% from early April, when I wanted to buy back in some to recover some of the losses she’d seen in the past couple years . Unfortunately, she’s a medium wig and knows too much, and was red-lighted at the time. We could’ve bought in mid-May, but it had already doubled by then, so I decided to wait and see. Lame! Oh well...

Hope some of you were brave enough to buy in the trough a few months ago.

KingT- 60% of the time, it works every time > davesaddiction @ opposite-lock.com 06/09/2020 at 11:23

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I don’t have a conflict of interest here. What the stock ?

davesaddiction @ opposite-lock.com > KingT- 60% of the time, it works every time 06/09/2020 at 11:29

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It’s a midsize independent oil & gas company.

HoustonRunner > davesaddiction @ opposite-lock.com 06/09/2020 at 11:44

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We were on the opposite end for my wife’s stock. She is in the restricted group to transact, and we planned to sell some in the open window right after earnings were announced (7 day window I think). We were a bit indecisive about how much to sell , so we didn’t sell on day 1. On day two it dropped in value by 2/3.

Future next gen S2000 owner > davesaddiction @ opposite-lock.com 06/09/2020 at 11:49

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Let me check. The one I bought it up 70%. I didn’t invest much, but I wasn’t willing to risk losing more. Should help pay for the next vacation.

facw > davesaddiction @ opposite-lock.com 06/09/2020 at 12:05

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I put $22, 000 in in March and April, and frankly wish I had dug around to find some more, I was expecting things to stay down longer (and do think the current rally is extremely premature). Really though I wish I had sold in February , but I really didn’t expect our response to be this shitty. If anything I expected Trump to be more draconian at the airports, cancelling more flights and screening more aggressively. In general I thought we’d do a much better job at isolating early cases before there would be any sort of breakout here (in my defense, it wasn’t clear at that point that we’d have presymptomatic/asymptomatic transmission at that point, which clearly makes for a harder problem).

In any event, between my stock losses as the market tanked, and plunking available cash on hand into the market, my wagon fund evaporated, but maybe next year.

davesaddiction @ opposite-lock.com > HoustonRunner 06/09/2020 at 12:05

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Oof... I’m definitely wishing we’d been in the camp of “sell it as soon as you can” for the past decade. Thankfully we did sell off a decent amount a few years back, but generally just hold until we have a reason to sell.

Thomas Donohue > davesaddiction @ opposite-lock.com 06/09/2020 at 12:19

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I guess I missed the front-end post back in April. ;)

I did buy Boeing at ~108 (as well as a few other things) , so I’m a happy guy.  I just wish I was able to buy more.

davesaddiction @ opposite-lock.com > Thomas Donohue 06/09/2020 at 12:25

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Haha - if you want to ask her for confirmation... I was definitely looking for the big score (a potential 4-6x), so it wasn’t nearly as attractive once it has already doubled in price. I actually did start to place an order, but got a warning from Fidelity that I was going forward with unsettled cash, so I decided to wait.

Nice job on Boeing. Sometimes I wish I was gutsier on stuff like this, but it’s probably good (in the long run) that I’m not - ha!

Gone > davesaddiction @ opposite-lock.com 06/09/2020 at 12:26

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A couple months ago one could reasonably surmise throwing money at energy stocks was a bad idea. The Fed though... Hindsight being what it is, I’d gone all in, on margin too lol.

We decided to chance it, which could have gone very poorly but made us ~220% ... We made a few purchases (including a quick flip last week ) but now are all out with the fun money. Still considering playing with the profits (worked very well for me in ‘16) and seeing where it goes. Most of our personal savings is in long term stuff we were slowly unwinding this last winter and will continue to if the market pushes further upwards.

davesaddiction @ opposite-lock.com > Gone 06/09/2020 at 12:45

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Well done!

Gone > davesaddiction @ opposite-lock.com 06/09/2020 at 13:00

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T hanks! L uc ky more than anything...

If we stayed in until Monday morning instead of Thursday, we would have been right at 300%+. Crazy world lol.

HoustonRunner > davesaddiction @ opposite-lock.com 06/09/2020 at 14:05

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Yeah, we were only selling to diversify.  The plan was to sell and take all the proceeds (minus what we would need for taxes) and move it into the kids 529s.